Settlement approved imposing permanent market bans, $750,000 penalty, and $300,000 disgorgement for securities law violations.
Staff of the Ontario Securities Commission alleged that Stableview Asset Management Inc. and Colin Fisher contravened the Securities Act by making untrue statements to clients, disregarding investment parameters, and failing to disclose conflicts of interest.
The parties submitted a settlement agreement for approval.
The Capital Markets Tribunal approved the settlement, finding it in the public interest.
Colin Fisher was ordered to pay a $750,000 administrative penalty, disgorge $300,000, and pay $270,000 in costs, subject to an installment plan.
Both respondents were permanently banned from participating in Ontario's capital markets, with limited exceptions for Fisher.